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C35 setup

  • 14-05-2007 03:43PM
    #1
    ruthkell
    Closed Accounts Posts: 39 ✭


    Hi, What are the first steps to becoming C35 registered. I am looking at going into business in carpentry earning approx €600-700 per week.

    Would I have to register for VAT? I would probably pay more than reclaim as I would not have much overheads.

    If I do domestic work (not for a contractor) can I myself return 35% tax and if so how often would I forward payment to tax office?

    Do I employ an accountant and produce profit & loss accounts every year like a sole trader?

    Do I pay PRSI and tax at the standard rate and reclaim the balance at yearend?


Comments

  • #2
    kluivert
    Registered Users, Registered Users 2 Posts: 2,396 ✭✭✭kluivert


    From reading your post, you need to sit down and get some proper information about this, because it appears that you only have half the story there.

    Best to do face to face with an accountant.

    Register for income tax as a self employed person, fill in TR1.

    Register for relevant contractors tax (RCT) on the TR1 as well.

    Register for Vat on the TR1 as well.

    Available from Revenue.ie or local tax office.

    Have a read of the following links to give yourself more information to see if it will help you.

    www.revenue.ie

    Click on ...for Businesses and start reading the guides there especially Starting a Business

    Ask questions


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